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Employee Who Stole $2.8m from Company to Buy Crypto Gets 5-year Jail Term

05/12/2022
07/12/2022
08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023
Employee Who Stole $2.8m from Company to Buy Crypto Gets 5-year Jail Term

A South Korean firm worker entire stole over $2.8 million value of his agency’s cash to purchase crypto has been handed a five-year jail sentence.

Yonhap reported that the legal department of the District Court within the metropolis of Daegu discovered the worker – who was not named for authorized causes – responsible of costs of embezzling funds from the corporate (additionally unnamed). The agency produces gadgets for the medical business, and the convicted worker was recognized as male and in his 30s. The man was described as a supervisor who labored within the agency’s accountancy division.

The courtroom heard that the worker embezzled funds on 57 separate events, making for a complete of simply over $2.8 million. On one event, the person transferred $21,000 to his spouse’s account to repay a debt.

Staffer Stole $2.8m from Company’s Salary Fund to Buy Crypto

The man seems to have been in command of managing worker payrolls and loved “freedom” in making use of the corporate’s accounts. The courtroom heard that the person had used the funds to put money into “cryptocurrencies, as well as stocks.”

But the courtroom additionally heard that the person seems to have made some had gone questionable crypto shopping for decisions together with his stolen loot – as he had additionally filed for chapter.

Police stepped in to arrest the person in March this yr after the agency started to suspect that one thing was amiss – and relayed their suspicions to the native police station.

Officers investigated and located proof that the person had begun embezzling firm cash for at the least 12 months.

The presiding decide was quoted as stating that the person had since “paid back” a few of the cash he stole and “showed remorse” for his actions. But the courtroom added that the person ought to serve 5 years behind bars due to the “nature of the crimes” he had dedicated – and the truth that he had abused the belief of his employer and colleagues.

Last month, a courtroom in Seoul additionally sentenced a crypto fraudster who tricked victims out of some $1.7 million value of bitcoin (BTC), ethereum (ETH), and fiat to 5 years in jail.

Compiled by Coinbold

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